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Dec 21, 2012
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. >> well, as far as the uk stock market is concerned, people focus often on the uk economy. the economy next year could do a bit better than this year. it may be the economy that shows the biggest improvement, believe it or not, in its gdp growth rate. that improvement, though, we think is flattering the underlying reality. but stock markets, the uk stock market is a little about the like chelsea, arsenal and man dhefter city. a lot of the glamorous, exciting players are not based in the uk to begin with. it's an international stock market and it's very dominated by the resources sector. we quite like energy, but we're not so keen on the materials. we don't think the uk is going to do as well as the s&p or the euro stocks. we're expecting markets to be more strong because local expectations are going to be overly depressed and they matter. >> kevin, briefly, what about the yen? this seems to be one of the biggest stories for the bank of japan. do you bet on the bank of japan here? >> we expect them to loosen and of coursively push the yen down. the only qualification one has
. >> well, as far as the uk stock market is concerned, people focus often on the uk economy. the economy next year could do a bit better than this year. it may be the economy that shows the biggest improvement, believe it or not, in its gdp growth rate. that improvement, though, we think is flattering the underlying reality. but stock markets, the uk stock market is a little about the like chelsea, arsenal and man dhefter city. a lot of the glamorous, exciting players are not based in the...
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Dec 11, 2012
12/12
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uk based assets of a failing u.s. bank. the offer, which was not reciprocated, is part of an attempt by regulators in controlling the risk of institutions collapsing. >>> and the 20th position to hold a ceo at a fortune 500 case. and 16.6% are at the broad end of the fortune 500 firms. with more on the catalyst 2012 fortune 500 consensus is deborah gillis. deborah, thanks for joining us. why has the number not improved in sort of seven years? >> well, if you say it's been seven years and barely any movement in terms of women's representation on -- and, in fact, very little movement over the last three years for women in executive officer positions. why is that? it's certainly not a supply problem. we know that there are many women with the skills and experience to serve on corporate boards. in fact, our research shows that if you look at the executive officer pool and the fortune 500, there are 710 women with the skills and experience to serve on corporate boards. so we really need to dispel the myth that it's the sup
uk based assets of a failing u.s. bank. the offer, which was not reciprocated, is part of an attempt by regulators in controlling the risk of institutions collapsing. >>> and the 20th position to hold a ceo at a fortune 500 case. and 16.6% are at the broad end of the fortune 500 firms. with more on the catalyst 2012 fortune 500 consensus is deborah gillis. deborah, thanks for joining us. why has the number not improved in sort of seven years? >> well, if you say it's been seven...
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Dec 6, 2012
12/12
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they don't think they're operating quite the same way here in the uk. for example, local bank managers relationship managers are not given the sap kind of discretion to make lending decisions in respect to businesses in their community that they know that they see every day. so we have to change the culture in our banks. but there is also a market failure in terms of having a financial services sector of small to medium sized businesses and that's why p opposition is arguing strongly for british investment bank. we're alone in not having a state backed investment institution to plug that market failure. and i think the officer of budget responsibility, our independent fiscal council here, has made clear part of what is holding back growth is this credit problem that we have. now, sure of course the eurozone affects the wholesale money markets, but there are things that you can do domestically to address that. and if you look at, say, sorry to use germany constantly, but during the liquidity crunch in 2009, germany investment bank kfw was able to immedia
they don't think they're operating quite the same way here in the uk. for example, local bank managers relationship managers are not given the sap kind of discretion to make lending decisions in respect to businesses in their community that they know that they see every day. so we have to change the culture in our banks. but there is also a market failure in terms of having a financial services sector of small to medium sized businesses and that's why p opposition is arguing strongly for...
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Dec 5, 2012
12/12
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the problem lies in the uk tax code, isn't it? >> indeed. the uk tax code is complicated. and that in itself provides an opportunity for companies to plan. also some of what they want to do. it's very important to make this distinction between avoidance and evasion. evasion is illegal. avoidance is looking at the law and seeing what opportunities there are to minimize costs and tax is just another cost of doing business. >> so the long and the short of it is successive governments, whether they be coalition, torrey, labor governments have made a right mess. why is that this tone that is so complicated that creates all these opportunities for avoidance? >> it's because people have built anti-avoidance legislation on anti-avoidance legislation rather than actually thought about what they're trying to tax. but part of the problem with the u.s. companies from the government's perspective is that the international tax regime worked quite well when profits tended to be made in the same country that sales are made in, but the pac have got excited about the fact that sales are hig
the problem lies in the uk tax code, isn't it? >> indeed. the uk tax code is complicated. and that in itself provides an opportunity for companies to plan. also some of what they want to do. it's very important to make this distinction between avoidance and evasion. evasion is illegal. avoidance is looking at the law and seeing what opportunities there are to minimize costs and tax is just another cost of doing business. >> so the long and the short of it is successive governments,...
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Dec 20, 2012
12/12
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that gilt in the uk, keeping an eye on it, it is falling a little bit. 1.95% after a soft set of uk retail sales figures. spain, italy, moving higher, but not too much of a move there. 5.3%. and 4.4 for italy. now, forex rates, the euro/dollar and the yen has been in focus still in the last several trading sessions and that continues today. 1.3230 is the level. the yen, though, is giving back about .5% after the bank of japan's quantitative easing plans, pretty much flecting a buy the rumor, sell the fact move. now, house republicans plan to bring their tax bill to a floor vote today. this as tensions over the white house over the fiscal cliff have started to rise. it's unclear what the bill, known as plan b, will look like. house speaker john boehner has reportedly added spending cuts to convince members it will be worth the vote. president obama has threatened to veto the bill. the president says he's puzzled by what's holding up budget talkes and that house republicans should stop trying to score a point against him. >> take the deal. you know, they will be able to claim that they have
that gilt in the uk, keeping an eye on it, it is falling a little bit. 1.95% after a soft set of uk retail sales figures. spain, italy, moving higher, but not too much of a move there. 5.3%. and 4.4 for italy. now, forex rates, the euro/dollar and the yen has been in focus still in the last several trading sessions and that continues today. 1.3230 is the level. the yen, though, is giving back about .5% after the bank of japan's quantitative easing plans, pretty much flecting a buy the rumor,...
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Dec 13, 2012
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>> well, none have is 00% committed in doing so, except the uk and sweden. the others have indicated that they will look into it and there's the expectation they will join. maybe not immediately, maybe somewhere down the road. but at least they want to join. it remains to be seen whether they can join from the word go. in terms of which banks are being supervised, i think this is a typical eu compromise and maybe not a bad one. remember, france wanted all 6,000 banks being supervised. the germans said only 30 or so. we ended up with something closer to 150. and the option for the ecb pinpoint ago problem, even if it's the smaller banks saying, we have a problem there. we have to pull that into our supervision, they can do that. that seems to be the provision that we have here at the moment. so i think everybody could be out there and say, we won a little bit and that's how eu decisions usually work. you have to end up in a consensus that everybody can live with and at least we get a law that deserve tess name on track and then it could become operational in
>> well, none have is 00% committed in doing so, except the uk and sweden. the others have indicated that they will look into it and there's the expectation they will join. maybe not immediately, maybe somewhere down the road. but at least they want to join. it remains to be seen whether they can join from the word go. in terms of which banks are being supervised, i think this is a typical eu compromise and maybe not a bad one. remember, france wanted all 6,000 banks being supervised. the...
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Dec 4, 2012
12/12
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we'll keep our eye on the uk as we head toward the bank of england meeting this week p. dollar index has hit a one month low. you're redollar up to euro-dollar up near the high we saw yesterday. dollar-yen moving away from the 7 1/2 month high. rebounding against the dollar and the euro ir, as well. priced in a lot in terms of monetary policy out of japan. and aussie dollar, 1.0463, yes, we have cut the cash rate in australia to match the record low of 3%. but we see the aussie dollar rise because it's pretty much all priced in. sterling-dollar also getting a benefit. back over 1.61. so that's where we stand in european trade. let's recap the asian trading session for the first time today, when you not the last. >> thank you, ross.not the last. >> thank you, ross. shanghai composite recovered from its four year low as property financials, rebounded. shale gas and geothermal plays also rallied as beijing plans to cut its annual coal consumption target by 2015. the hang seng finished m eed marginally in the green. losses in the services sector capped the up side. in japan,
we'll keep our eye on the uk as we head toward the bank of england meeting this week p. dollar index has hit a one month low. you're redollar up to euro-dollar up near the high we saw yesterday. dollar-yen moving away from the 7 1/2 month high. rebounding against the dollar and the euro ir, as well. priced in a lot in terms of monetary policy out of japan. and aussie dollar, 1.0463, yes, we have cut the cash rate in australia to match the record low of 3%. but we see the aussie dollar rise...
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Dec 18, 2012
12/12
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uk link will be up, not down. and them i also think thattory thing our chancellor did a good job of was she raised taxes by 10 so companies can invest a 215 pounds, not just 200 pounds. >> that's a leverage the other governments have been trying to pull. but your point is interesting. it's not just the uk we were seeing there. and it goes back to the point you were making about oil. u.s. retail gas prices are down 16% since their peak this year. if it weren't for the fiscal cliff, this is actually a big source of stimulus for households. absolutely. i don't want to make too much about it, but the biggest attacks oeft with the and elevated since the mid '70s, it could be coming to an end. so i think that is something we need to be aware of. the annual fuel rate in the uk is about 15 billion to consumers. you're looking at another percent on income. so as i'm sitting down righting the income for next year, it's not all doom and gloom, the mood is similar to last year where next year it's too horrendous to count. >>
uk link will be up, not down. and them i also think thattory thing our chancellor did a good job of was she raised taxes by 10 so companies can invest a 215 pounds, not just 200 pounds. >> that's a leverage the other governments have been trying to pull. but your point is interesting. it's not just the uk we were seeing there. and it goes back to the point you were making about oil. u.s. retail gas prices are down 16% since their peak this year. if it weren't for the fiscal cliff, this is...
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Dec 3, 2012
12/12
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and uk over those libor claims. it's monday, a new month for us here, december 3rd, 2012, and "squawk box" begins right now.
and uk over those libor claims. it's monday, a new month for us here, december 3rd, 2012, and "squawk box" begins right now.
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Dec 7, 2012
12/12
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we have industrial production coming out of the uk. if worse than expected, may get a negative q4 for the uk. italian yields are higher. spanish 5.54, just nudging a little higher. bunds down 1.29d% after the downgrade by the bundesbank, as well. draghi says we discussed it and again a big town great in inflation forecast, as well. some saying maybe they still won't, but it does knock the euro-dollar, 1.29d 25 is where we stand. dollar-yen 82.37. we talked about the yen in relation to what was going on with the earthquake. aussie dollar below 1.05. sterling-dollar just slightly weaker. that's where we stand as far as the european markets are concerned. let's get a wrap of the final trading day in asia this week. >> asian markets wrapped up the week on a mixed note. shanghai composite gained 1.6% and it's up over 4% on the week. stocks related to citi growth continued to surge as the new urbanization plan is aiming to boost investment plan. agriculture stocks up today on support policies. hang seng dragged lower by utility stocks. picc
we have industrial production coming out of the uk. if worse than expected, may get a negative q4 for the uk. italian yields are higher. spanish 5.54, just nudging a little higher. bunds down 1.29d% after the downgrade by the bundesbank, as well. draghi says we discussed it and again a big town great in inflation forecast, as well. some saying maybe they still won't, but it does knock the euro-dollar, 1.29d 25 is where we stand. dollar-yen 82.37. we talked about the yen in relation to what was...
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Dec 12, 2012
12/12
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in june, the nation's financial regulators imposed a huge fine on barclays bank based in the uk for underreporting libor. the global benchmark is used for hundreds of trillions of dollars in transactions. regulators in various countries are also investigating possible involvement of other banks. >>> in japan, financial regulator -- japan's financial regulator, that is, they plan to strengthen rules against insider trading after a series of information leaks from major securities firms earlier this year. the financial services agency now wants stricter punishment for employees at securities firms who illegally leak information to their clients. under current regulations, those employees are not subject to punishment. but after the revision, the agency will reveal names of those involved in serious cases. that's including investors. the agency is also considering a steep rise in penalties. regulators hope to complete a revised bill by the end of the year and submit it to parliament next year. >>> now let's get a check on how markets are performing. tokyo's main stock index broke 9,600 for the first
in june, the nation's financial regulators imposed a huge fine on barclays bank based in the uk for underreporting libor. the global benchmark is used for hundreds of trillions of dollars in transactions. regulators in various countries are also investigating possible involvement of other banks. >>> in japan, financial regulator -- japan's financial regulator, that is, they plan to strengthen rules against insider trading after a series of information leaks from major securities firms...
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Dec 16, 2012
12/12
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i'm not sure it's in uk law but they don't put it in law. and now, state of new york, resolution authority. so you get some consistency around the world. and i have anything that it will work for nonbank. whether it works for the biggest banks in the world, the first part is -- [inaudible]. they are so diverse and so big, it will be a long while before we see this infinite failure. but i think theoretically -- [inaudible] but it would have worked for leave and. it would have worked for aig. i have no doubt in my mind we could have handled it. >> so what is your thought speak with the problem is beyond my pay grade. this is a really big problem, how we deal with the too big to fail problem, and the man on my right says he would do with it too big to fail problem with the content bank in ellicott and that was bailed out. that was not his first too big to fill problem. the too big to fill problem occurred before the. there were cries for loans and lockheed loans, and i argued in 1914, treasury secretary magnitude bill that new york city because
i'm not sure it's in uk law but they don't put it in law. and now, state of new york, resolution authority. so you get some consistency around the world. and i have anything that it will work for nonbank. whether it works for the biggest banks in the world, the first part is -- [inaudible]. they are so diverse and so big, it will be a long while before we see this infinite failure. but i think theoretically -- [inaudible] but it would have worked for leave and. it would have worked for aig. i...
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the uk let me start. with yemen it's very difficult because they have neighbors they don't have much resources and so it can be in for a long time in. each of. us of. if we the people are learning in the last three years that you had to live in a political solution which is sixty four percent what about who will be active in politics. if you see a good position in egypt you will find many women about even in militants who have been. ok ok dr saver. it's very timely because we're actually losing the connection now but we did get everything you had to say there thank you very much indeed sorry about the poor connection just at the end dr saeed study from the american university in cairo environmentally friendly energy looks like a reasonable solution where natural resources are running low and exploiting them becomes more dangerous u.k. wants fifteen percent of the country's energy needs to be covered by renewable sources by twenty twenty that could prove too costly for the public has all these nor smith re
the uk let me start. with yemen it's very difficult because they have neighbors they don't have much resources and so it can be in for a long time in. each of. us of. if we the people are learning in the last three years that you had to live in a political solution which is sixty four percent what about who will be active in politics. if you see a good position in egypt you will find many women about even in militants who have been. ok ok dr saver. it's very timely because we're actually losing...
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Dec 27, 2012
12/12
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i'm pondering is when you look at how much qe has taken place in japan compared to, for example, the uk, it's actually a relatively small amount. if japan tries a much larger qe event, surely we go down the route of the uk which in and of itself does not demonstrate a huge increase in inflation and a huge increase in market growth, either. >> arguably, that is one of the problems with the huge task that the boj has ahead of it. people progress in terms of growth, japan has bigger problems, much bigger problems in terms of the demographic in terms of the structural hold back. so there are a lot of sectors at play now. i think one of the names that the boj has is whether this will work or not. but if were looking at it more from a yen perspective, certainly two things are going to drive the yen are going to be the relative price of the boj balance sheets with respect to, perhaps, the fed and the ecb and the other being the jgb. >> and briefly, in summary, what are your favorite strategic calls? >> the strategic calls for us are going to be buying the rupee against the yen. we are looking
i'm pondering is when you look at how much qe has taken place in japan compared to, for example, the uk, it's actually a relatively small amount. if japan tries a much larger qe event, surely we go down the route of the uk which in and of itself does not demonstrate a huge increase in inflation and a huge increase in market growth, either. >> arguably, that is one of the problems with the huge task that the boj has ahead of it. people progress in terms of growth, japan has bigger...
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Dec 28, 2012
12/12
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joining us is allen higgins, chief investment officer for the uk coutts. good morning. >> good morning. >> so we've had 12 years of exposure to gold. you're limiting it now. why? >> it's starting to lag, but more subtly from a portfolio construction perspective, it's lost its negative correlation. for example, quarter 2010, well, euro crisis won when we had equity markets down a lot then gold really surged forward, giving a negative correlation. and so for the portfolio manager at coutts, it has been at times a legal high gold exposure surging upwards in times of stress. for those days seem to have gone. trimming it. that is a fact that there's a real shortage of low risk investments of on german bunch negative. >> but you're saying it's trading like other risk assets at the moment. >> at times, it's correlated with em. so it's less attractive from a portfolio construction perspective as compared to what it was. >> it's fascinating because we've been talking about one theme for 2013 being is it a stock picker's market, are we seeing less differentiation, w
joining us is allen higgins, chief investment officer for the uk coutts. good morning. >> good morning. >> so we've had 12 years of exposure to gold. you're limiting it now. why? >> it's starting to lag, but more subtly from a portfolio construction perspective, it's lost its negative correlation. for example, quarter 2010, well, euro crisis won when we had equity markets down a lot then gold really surged forward, giving a negative correlation. and so for the portfolio...
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Dec 3, 2012
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. >> is dolmen all over the uk? >> that's correct. they're predominantly in ireland, but you look at ireland right now, they're actually going through the reforms. they're trying to inject money in a credit fashion into their economy. and we certainly think we can bring our fixed income expertise and continue to help them. >> that would make sense for cantor. ireland was the mf-will first they were in trouble, then the model for the world. what got them into trouble again, housing or real estate or something or bad banks or -- and now again they're kind of a model for everyone on how to handle it. is that basically the last five years? >> absolutely. certainly was a real estate bubble there. now there are austerity measures being put in place and they're actually following through on the austerity measures. so certainly they'll come out first and actually look pretty good. >> so where is the most business for you for cantor in ireland, what will you be doing? >> certainly it's an equity based firm. we'll bring our fixed income experti
. >> is dolmen all over the uk? >> that's correct. they're predominantly in ireland, but you look at ireland right now, they're actually going through the reforms. they're trying to inject money in a credit fashion into their economy. and we certainly think we can bring our fixed income expertise and continue to help them. >> that would make sense for cantor. ireland was the mf-will first they were in trouble, then the model for the world. what got them into trouble again,...
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Dec 12, 2012
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inching closer and closer to this government in exile, if you will, as being recognized by france, the uk, turkey, gulf cooperation council countries and now the united states. >> this is going to complicate things, because now at the same time we have this state department saying that a small portion of the rebels are terrorists. they are al qaeda. how does that complicate the situation? the u.s. is trying to support the rebels. the president says this is a legitimate organization, the government, and yet, you have terrorists inside on the ground as part of the rebel forces. >> these jihadi fighting forces are making the rebel advances by the way. when you hear them made in and around damascus and a big army base outside of aleppo overtaken by rebels, these are the fighting forces with training in iraq, the jihadis are foreigners. it's a small component but making advances. the head of the opposition group is criticizing the u.s. for designating this rebel group as a terrorist force perhaps he doesn't want to be seen as a puppet of the united states. by the way, the u.s. is now inviting
inching closer and closer to this government in exile, if you will, as being recognized by france, the uk, turkey, gulf cooperation council countries and now the united states. >> this is going to complicate things, because now at the same time we have this state department saying that a small portion of the rebels are terrorists. they are al qaeda. how does that complicate the situation? the u.s. is trying to support the rebels. the president says this is a legitimate organization, the...
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Dec 17, 2012
12/12
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>> the uk at the moment is showing clear signs of recovery. i think if we can through the first quarter of nkts year, it all will be recovering. i don't care expect this to be a real turn until the second half. as we go into the second half of next year, it will become clearer. even the eurozone is recovering. within that, you'll have very much the laggards. france won't do particularly well, but germany and italy maybe next year have a potential surprise on the upside. >> how much of a surprise? >> it will not be a fast recovery. the ecb will be forced to do more, but they'll be drald dragged into it. so things will have to get worse before they act. so i don't really think -- >> what more actions? they have a t program waiting to go. what more actions are you talking about? >> the key policy rate for the ecb is likely indeed in the first quarter. they can take dpopt deposit rate negative. by the middle of next year, they'll be doing outright qe. i've been talking about this for ages. they haven't done it so maybe they won't do it. but i'm as
>> the uk at the moment is showing clear signs of recovery. i think if we can through the first quarter of nkts year, it all will be recovering. i don't care expect this to be a real turn until the second half. as we go into the second half of next year, it will become clearer. even the eurozone is recovering. within that, you'll have very much the laggards. france won't do particularly well, but germany and italy maybe next year have a potential surprise on the upside. >> how much...
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Dec 14, 2012
12/12
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as you can see there, the uk gilt is telling offer a little bit. yield riding to 1.78%. whether it's the bund or even yields in spain are falling as prices rise a little bit. so there is light at the end of the tunnel according to our next guest. he says the global economy is close to reaching its weakest point before recovery sets in. he's robert cohen, chief equity strategist. woke. >> good morning. >> we just heard rob doddson talking through some of these results. unfortunately, we saw some signs of weaker demand, especially global demand in these reports. but perhaps what is consistent with what you're saying, why is it your view that that is going to happen? >> sometimes you need to pull away. you move away from the fundamentals a little bit on the month to month improvements. if you look at 2013 as a whole, the big headwinds you've had in a number of years, fiscal austerity is largely the sarp in europe year on year. 2014, that comes up quite quickly. 2013 is largely going to be the final year of the crushing deleveraging if you like on the european banks. so esse
as you can see there, the uk gilt is telling offer a little bit. yield riding to 1.78%. whether it's the bund or even yields in spain are falling as prices rise a little bit. so there is light at the end of the tunnel according to our next guest. he says the global economy is close to reaching its weakest point before recovery sets in. he's robert cohen, chief equity strategist. woke. >> good morning. >> we just heard rob doddson talking through some of these results. unfortunately,...
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Dec 31, 2012
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the market prices that you have, you're looking at a situation where governments, just like in the uk, have to come one a support mechanism to make that economically viable. so i think that's going to be the saying across the world. that is quite expensive here in europe. i don't necessarily see europe as a whole changing its mind and going from nuclear. if you take germany, for example, why did they change their mind? obviously, there were safety concerns but probably more importantly, it was to do with the ballot box. there was quite a bit of opposition, people out on the streets protesting and in the end of the days, the politicians decided to take what i considered to be a political course rather than an economic one. >> i don't think we would describe it as positively rosy just yet. we're saying that the storm clouds are listing. but as you're hinting, there are big question marks about growth in 2013, particularly in the euro area where we're not expecting very much more than a flat economy at best. key thing for the investment markets, as you know, is that gdp growth is only a
the market prices that you have, you're looking at a situation where governments, just like in the uk, have to come one a support mechanism to make that economically viable. so i think that's going to be the saying across the world. that is quite expensive here in europe. i don't necessarily see europe as a whole changing its mind and going from nuclear. if you take germany, for example, why did they change their mind? obviously, there were safety concerns but probably more importantly, it was...
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Dec 1, 2012
12/12
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., france and the uk say they will set back decisions. the u.n. gave palestinians nonmember observer state status. israeli prime minister benjamin netanyahu has not publicly acknowledged approval, but a senior government official says he has sign off on those plans. >>> in washington, the calendar is coming ever closer to that fiscal cliff. we'll hear where each side stands and if we are any closer to a deal today. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99
., france and the uk say they will set back decisions. the u.n. gave palestinians nonmember observer state status. israeli prime minister benjamin netanyahu has not publicly acknowledged approval, but a senior government official says he has sign off on those plans. >>> in washington, the calendar is coming ever closer to that fiscal cliff. we'll hear where each side stands and if we are any closer to a deal today. i'm going to dream about that tiramisu. what a night, huh? but, um, can...
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Dec 11, 2012
12/12
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as you noted, despite the monetary easing from the bank of england, the uk economy was flat. what more they think could the bank of england to and i wanted to know what you think, if there would be any gain in following the approach in canada or the u.s. in specifying how long interest rates would remain low. if you disagree with that, why? >> we do not believe in the bank of england that we have a crystal ball which enables us to foretell the future. so we simply do not know what we will be deciding six months, 12 years, -- 12 months, two years from now. what is important is to have sufficient transparency about how we will react to events as they unfold. we certainly do not want to want to leave vast uncertainty about our future actions. instead of saying interest rates will be low, but we would rather say is, we would rather talk about the actions in a way people are confident how we might react to events as they unfold. the proof of the success is that is that if you look at market interest rates, there is little difference in terms of what markets expect the yield curve
as you noted, despite the monetary easing from the bank of england, the uk economy was flat. what more they think could the bank of england to and i wanted to know what you think, if there would be any gain in following the approach in canada or the u.s. in specifying how long interest rates would remain low. if you disagree with that, why? >> we do not believe in the bank of england that we have a crystal ball which enables us to foretell the future. so we simply do not know what we will...
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Dec 31, 2012
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markets in europe mixed after a shortened session in the uk, france and spain. our road map starts right where we were months ago, waiting for the 112th congress to agree on a debt reduction package. the senate convenes at 11:00 a.m. >> the dow had its worst day in a month on friday. set to close december with a loss. the question is, does it continue to sell off if there isn't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing sud
markets in europe mixed after a shortened session in the uk, france and spain. our road map starts right where we were months ago, waiting for the 112th congress to agree on a debt reduction package. the senate convenes at 11:00 a.m. >> the dow had its worst day in a month on friday. set to close december with a loss. the question is, does it continue to sell off if there isn't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in...
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Dec 27, 2012
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the uk, well under 2. china, 1.55. we know they've actually implemented policies because they want to control population. in the bigger picture, fooling around with mother nature in this way could have hugely negative consequences. russia 1.43 and germany, 1.41. at the very bottom of the list, other than certain countries where the information is not available, the bottom of this list was singapore at .78. i know we're dealing with so many issues nowadays and i blow a gasket over many of them, whether fiscal cliff, unfunded liabilities, at some point, growth is the answer. when you start considering where the engines of growth have been and what their population declines may be, it makes one wonder, where is the horsepower from global growth will come from and this at some point needs to affect the picks in your stock portfolio. back to you. >> rick, i'll take it from you, rick santelli. >>> even starbucks is worried about the fiscal cliff. and we'll take you live to one of those location as they launch their initiativ
the uk, well under 2. china, 1.55. we know they've actually implemented policies because they want to control population. in the bigger picture, fooling around with mother nature in this way could have hugely negative consequences. russia 1.43 and germany, 1.41. at the very bottom of the list, other than certain countries where the information is not available, the bottom of this list was singapore at .78. i know we're dealing with so many issues nowadays and i blow a gasket over many of them,...
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Dec 10, 2012
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we said that the uk consolidation would fail. it had too much revenue. as we are seeing now, millionaires and billionaires are heading for the exit. that is what we are going to see. >> thank you. mr. chairman, i yield back. >> i would like to congratulate the chairman on his election and the fine work he has done as chairman of this committee and to congratulate mr. brady on being selected as his chair of this committee and the next congress. for our distinguished witnesses, they agreed that what we need to do is have a long- term solution. i would like to ask dr. zandi how we achieve that. we are several million dollars apart from the president's proposal. how would you close that gap? proposalhe president's and speaker boehner's proposal. how can we get people employed and move our economy forward? >> i apologize. there will be a fair amount of numbers here. the president's tax revenue proposal amounts to about $1.6 trillion over a 10-year period. that is from higher tax rates. roughly 600 billion are from some kind of tax reform. they are all reasona
we said that the uk consolidation would fail. it had too much revenue. as we are seeing now, millionaires and billionaires are heading for the exit. that is what we are going to see. >> thank you. mr. chairman, i yield back. >> i would like to congratulate the chairman on his election and the fine work he has done as chairman of this committee and to congratulate mr. brady on being selected as his chair of this committee and the next congress. for our distinguished witnesses, they...
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Dec 17, 2012
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want to bring in michelle caruso-cabrera as markets close in the uk and across europe. a lot going on. a lot in italy. >> it's an all-italian version of the european close right now, carl. mario monti, contrary to reports last week that he did not want to run for prime minister again, we now hear he's undecided, and may actually run for p.m. of the country. right now he serves technocratically. there's expected to be an election early next year, maybe in february or in march. he has told reporters that he's considering it. the cabinet member he spoke with earlier in the week said he's going to make an announcement sometime this week on television. when asked by reporters about his recent visit to the tomb of saint francis he said he did, indeed, pray there to help him make a decision about whether or not to run. a man eagerly awaiting monti's decision is silvio berlusconi, the former prime minister of italy. we're pretty sure he has not prayed at the tomb of st. francis lately. he has said that he devil wants to be run for prime minister again however at the same time h
want to bring in michelle caruso-cabrera as markets close in the uk and across europe. a lot going on. a lot in italy. >> it's an all-italian version of the european close right now, carl. mario monti, contrary to reports last week that he did not want to run for prime minister again, we now hear he's undecided, and may actually run for p.m. of the country. right now he serves technocratically. there's expected to be an election early next year, maybe in february or in march. he has told...
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Dec 11, 2012
12/12
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that's all part of what goes between the uk and north america for virgin atlantic. the brand remains, guys. make that clear here. the virgin atlantic brand does not go away. what changes is that delta has a 49% stake in the company. there's going to be a press conference later this morning here in new york. we're going to be talking with delta ceo richard anderson, and "squawk on the street" a little later on this morning. but this is a big deal in terms of what's happening with the airlines, and that international consolidation that we've all been expecting. guys, back to you. >> before you go, real quick. how much is this going to really impact delta, singapore air, which had this stake, was unhappy ultimately, because they didn't have the control that they really needed. or thought that they needed. >> i think richard anderson believes he will have the control. also singapore airlines, many believe that it did not utilize the access to heathrow as effectively as delta will be able to in terms of flights between north america, and heathrow. so we'll have to see wh
that's all part of what goes between the uk and north america for virgin atlantic. the brand remains, guys. make that clear here. the virgin atlantic brand does not go away. what changes is that delta has a 49% stake in the company. there's going to be a press conference later this morning here in new york. we're going to be talking with delta ceo richard anderson, and "squawk on the street" a little later on this morning. but this is a big deal in terms of what's happening with the...
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Dec 17, 2012
12/12
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aggreko, this is a power generator supplier here in the uk, down 15% after it was talking about the outlook for 2013. more muted than what certainly people had been expecting. and holcim, the world's biggest cementmaker, it's reinvesting, taking write-downs and charges in its fourth quarter in order to cut operations in most of the of its european operations down 1.3%. certainly not as much as adegreeso, but kind of a da room ter. i want to turn now to forex, show you what's happening with the euro first. over here, as you can see, we're down about .3%. that's consistent with what we're seeing across bourses. bond not all that interesting today. a bit of a mixed bag. and i'll end here, guys, on, of course, the dollar/yen. japan did have when aer being called transformative actions weekend. it still remains toes be seen whether shinzo abe is going to be the next prime minister. can it help spur the company back towards growth? remember, with currencies, it's all relative and there are a lot of other players around the world who are trying to weaken theirs, as well. so it could be an uphill c
aggreko, this is a power generator supplier here in the uk, down 15% after it was talking about the outlook for 2013. more muted than what certainly people had been expecting. and holcim, the world's biggest cementmaker, it's reinvesting, taking write-downs and charges in its fourth quarter in order to cut operations in most of the of its european operations down 1.3%. certainly not as much as adegreeso, but kind of a da room ter. i want to turn now to forex, show you what's happening with the...
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Dec 18, 2012
12/12
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europe's grappling with the same question helped by some decent uk inflation data today. and a t-bill auction in spain. our road map begins with what appear to be significant progress in the debt negotiations overnight. a whose proposal looking to raise rates for those making more than $400,000 a year. but senator corker on squawk just poured a bucket of ice water on those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have the latest on not just the breakdown of this offer, but by the response of some key
europe's grappling with the same question helped by some decent uk inflation data today. and a t-bill auction in spain. our road map begins with what appear to be significant progress in the debt negotiations overnight. a whose proposal looking to raise rates for those making more than $400,000 a year. but senator corker on squawk just poured a bucket of ice water on those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of...
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Dec 4, 2012
12/12
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concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like that. so those talks will go on longer than originally hoped. but we are marginally higher going to the u.s. open. thank you. >> kelly, thank you. i'll just call you r kelly in now. >> that's not bad. >> ross, thank you. great to see you. >>> when we come back on squawk, bank of america ceo brian moynihan in his own words, we caught up with him yesterday to talk about business, the economy and the looming figure. as we head into a break, bank of america, best performing dow component of the year. up about 77%. ♪ [ male an
concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like...
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Dec 14, 2012
12/12
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from the uk's stewart hughes. just $8 million. still too practical? check out this diamond encrusted blackberry bold for $1.2 million. to be fair i'm not sure they're selling that one anymore, carl. >> the 10 is still coming. maybe you can modify it for the 10. that is fabulous. take me back to the television. i assume it's only as good as the input you give it, right? if you play a standard dvd it is going to look like a standard dvd? >> that's right. it'll upscale blue ray and sony gives you a server with 10 4-k movies preloaded. it loans that out to people who buy the tv. >> all right. now the robot. did i hear you right? your face appears on the forehead? >> yeah. it's a little kind of a cross between fun and creepy. you can talk to the robot. see the person's face. >> definitely on the creepy. >> it's kind of fun to try to steer it around and, you know, i got to steer it myself when i visited the
from the uk's stewart hughes. just $8 million. still too practical? check out this diamond encrusted blackberry bold for $1.2 million. to be fair i'm not sure they're selling that one anymore, carl. >> the 10 is still coming. maybe you can modify it for the 10. that is fabulous. take me back to the television. i assume it's only as good as the input you give it, right? if you play a standard dvd it is going to look like a standard dvd? >> that's right. it'll upscale blue ray and...